THE Bureau of the Treasury (BTr) said it raised P20 billion in its latest round of treasury bills (T-bills) sale, fully awarding the amount.

The BTr said the 91-, 182- and 364-day T-bills fetched average rates of 5.743 percent, 5.940 percent and 5.973 percent, respectively – all lower than the previous auction and prevailing secondary market rates.

Data from the Philippine Dealing and Exchange Corp. showed that securities of a similar three-month maturity last traded at a coupon rate of 5.8616 percent last week.

The six-month tenor, meanwhile, traded at 5.9899 percent coupon while the one-year tenor carried a coupon rate of 6.0118 percent. 

“The auction was 3.9 times oversubscribed, attracting P77.9 billion in total tenders. With its decision, the Committee raised the full program of P20 billion for the auction,” the BTr said.

Of the P6.5 billion scheduled sale for the 91-day, banks tendered P28.6 billion worth of offers. The 182-day, which also amounts to P6.5 billion, attracted offers worth P24.7 billion.

The 364-day T-bills attracted P24.6 billion worth of offers compared to the scheduled P7 billion sale.